Hilldodger
Guru
- Location
- sunny Leicester
I'd call Ghost Busters
buying a re-possessed house
- Thread starter justAl
- Start date
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Stig-OT-Dump
Guru
- Location
- Glasgow's sunny southside
In a previous recession I had a job cleaning out re-possessed houses. The things that people would do once their dreams had been smashed were sad (and more than a little bit minging). There was a bit of deliberate destruction and a whole lot of soiling going on. However, I'd imagine there are some bargains out there, as long as you get the right checks done.
ComedyPilot
Secret Lemonade Drinker
- Location
- The Kingdom of Yorkshire
Make sure the locks are changed?
I have bought loads at auctions.
Don't buy blind. Go and see it.
Get your budget sorted for doing it up and add 40% as you might find a lot of stuff as said like copper pipes etc have been ripped out.
Other than that it's just a normal deal really. The bank only really want as much as they can get for it. Don't pay over the odds though if it's blind bidding like you maybe would with a normal house you fall in love with as there can be problems with the house. More and more though the houses are not too bad as decent people have been caught out and just can't afford it.
You'll probably find the bank may have changed them but make sure the first thing you do is change the locks. You never know what bastard still has a key.
Don't buy blind. Go and see it.
Get your budget sorted for doing it up and add 40% as you might find a lot of stuff as said like copper pipes etc have been ripped out.
Other than that it's just a normal deal really. The bank only really want as much as they can get for it. Don't pay over the odds though if it's blind bidding like you maybe would with a normal house you fall in love with as there can be problems with the house. More and more though the houses are not too bad as decent people have been caught out and just can't afford it.
You'll probably find the bank may have changed them but make sure the first thing you do is change the locks. You never know what bastard still has a key.
In the early 90's we turned down a repo'd house in Lee (South East London)
3 beds, semi detatched, 2 bath, garden, garage, 5 mins from station, probably worth well over half a million quid today.
I think they were asking 40K for it, we estimated it would be at leat 40K more to make it livable. To say the place had been comprehensibly trashed is an understatment in trashing a place. The previous owners had removed every single thing that they could, right down to the tiles on the walls, the internal door frames, every single light fitting and socket, the paving outside, the roof insulation, etc and left most of it inside the house (all unusable of course). They had also arranged for several tipper loads of builders rubble to be dropped in the garden.
It would have been cheaper to simply bulldoze the site and start again, but the council were insisting the house could be refitted.
We thought about putting in an offer of 10k or so, but decided we did not need the grief.
Someone bought it and did it up, as it's still there, but I do wonder why the previous owners stopped at removal of sections of the foundations and adding some radioacive waste to really make it a liability. It was about the only thing they did not do
3 beds, semi detatched, 2 bath, garden, garage, 5 mins from station, probably worth well over half a million quid today.
I think they were asking 40K for it, we estimated it would be at leat 40K more to make it livable. To say the place had been comprehensibly trashed is an understatment in trashing a place. The previous owners had removed every single thing that they could, right down to the tiles on the walls, the internal door frames, every single light fitting and socket, the paving outside, the roof insulation, etc and left most of it inside the house (all unusable of course). They had also arranged for several tipper loads of builders rubble to be dropped in the garden.
It would have been cheaper to simply bulldoze the site and start again, but the council were insisting the house could be refitted.
We thought about putting in an offer of 10k or so, but decided we did not need the grief.
Someone bought it and did it up, as it's still there, but I do wonder why the previous owners stopped at removal of sections of the foundations and adding some radioacive waste to really make it a liability. It was about the only thing they did not do
craigwend
Grimpeur des terrains plats
Bought my first house as a repo - all I could (just) afford
as others said make sure your off 'others' credit black lists for your new address
house had been semi trashed - so wheres the kithcen? oh the pipe hanging out of the wall...
Lots of minor repairs - previous owners done a 'moonlight flit'
regards all the credit blacklists etc, don't just write on the envelope to return to them, as when I was a student I had a job in a big mail order company - the people who open the letters aren't the people who read them,
eventually found best to write on inside or phone the (credit type) companys up - who were always okay to be fair, saved balifs etc being sent round.
as others said make sure your off 'others' credit black lists for your new address
house had been semi trashed - so wheres the kithcen? oh the pipe hanging out of the wall...
Lots of minor repairs - previous owners done a 'moonlight flit'
regards all the credit blacklists etc, don't just write on the envelope to return to them, as when I was a student I had a job in a big mail order company - the people who open the letters aren't the people who read them,
eventually found best to write on inside or phone the (credit type) companys up - who were always okay to be fair, saved balifs etc being sent round.
